China's public offering fund value tops 27 trillion yuan

BEIJING - Assets under the management of China's public offering funds totaled 27.69 trillion yuan ($3.88 trillion) by the end of June, data from the Asset Management Association of China showed.

By the end of June, a total of 10,980 public offering funds were being operated by 144 fund management companies, the association said.

The scale of closed-end funds neared 3.75 trillion yuan, with open-end funds at about 23.9 trillion yuan, the data showed.

Of the 144 fund management companies, 48 are foreign-funded and 96 are domestic firms, the association said.